8 Ways to Save for a Vacation This Year

Everyone knows Christmas is on December 25th because the month and day it’s celebrated doesn’t change from year to year. Summer is kind of the same way. Although, the first day of summer vacation fluctuates a bit from one year to the next, we all know it’s coming at some point.

Still, many of us have the best intentions of saving up for a summer vacation. However, once it rolls around each year many of us find we haven’t saved a thing.

If this sounds like an annual occurrence you are familiar with, there are 8 ways you can save for a vacation this year and break the “no vacation” cycle.

1. Plan Early

Going on a vacation out of the country may not be out of the question if you plan and book your trip early. The sooner you start the more likely you will be to get a good deal on room and board, airfare, and other expenses.

2. Ban Restaurant Eating

One of the ways to save for a vacation this year is to reduce or even ban your restaurant eating. Eating out just 3 or 4 times in a month can really add up.

For example, if you spend an average of $10 for each meal that’s around $40 a month you could use to start a vacation fund. By June you could have $240 set aside for your summer get away instead of having nothing really to show for it.

3. Quit Drinking Carbonated Beverages

I must confess this idea may sound extreme at first. But I will also tell you that I stopped drinking carbonated beverages regularly many years ago and it didn’t hurt me one little bit.

Even if the pop you drink is purchased from a grocery store instead of a convenience store, it still isn’t as cheap as switching to water. In fact, drinking just one soda a day will cost you around $75 over a six month period of time. That’s another chunk of change you could add to your vacation fund.

4. Reduce Trips to the Dry Cleaners

Did you know you can use a product called Dryel to dry clean your own clothing at home? It is much cheaper than taking them to the dry cleaners every single time if you have several garments. Using this product instead and doing your own ironing too could save you $20 to $40 or more per month.

5. Drop Cable

Plopping down in your favorite chair to watch television is a hard habit to break. Trust me, I know because I do it myself at least a couple of nights a week. But there are cheaper alternatives to cable, such as Hulu, if you still want to watch the shows you like.

Making this change could lower your monthly bill by at least $30 to $40 for a savings of $200 or more over several months. Therefore, dropping your cable is another way you can save for a vacation this year.

6. Stop Paying for What You Don’t Use

A lack of time can cause some people to pay for things they are not even using. For example, newspapers and magazines they never read, gym memberships they never use, among others.

Rather than continue to pay for what you aren’t even using, why not cancel them? Instead, bank the additional money for your vacation this summer.

7. Make Alternate Plans

Another of the ways to save for a vacation this year is to make alternate plans that are cheaper when you are pressured to spend. If you are setting aside part of your monthly budget for a vacation, don’t dip into it for a single night on the town.

Let friends or family know what you are saving for and suggest a fun night in that is easier on your budget. Rent a movie, pop some corn and watch a new release. You’ll save from $20 to $40 or more each time.

8. Start a Side Hustle

To save enough for a vacation this year it may not be enough to simply cut expenses. Maybe you could get a temporary side hustle or part-time job to save even more.

There are lots of things you could do. Assess your talents, advertise through friends, Facebook, and other avenues and you can significantly bolster your trip fund.

It’s easy to say you don’t have enough money for a vacation when the reality is that you could if you made different choices. It all depends on how badly you want to travel to someplace new and different.

If you place value on new experiences use these 8 ways to save for a vacation this year and you’ll be packing your bags in no time.

This blog is for informational purposes only. Any advice given does not constitute a relationship and is by no means fact. The information and advice given on this site is only an opinion and should be confirmed with a finance or tax professional.